The value of exported goods in BOP* was estimated 62 billion ISK in October 2020 and the value of imported goods was estimated 65.8 billion ISK. Therefore, a deficit in balance of trade in goods in BOP was estimated 3.7 billion ISK. In the same month, export of services was estimated 24.6 billion ISK and import of services was estimated 23.8 billion ISK. Hence, the surplus in balance of trade in services was estimated 0.8 billion ISK.
Total export of trade in goods and services was therefore estimated 86.6 billion ISK in October 2020 and decreased by 30% compared with same month in 2019. Import of trade in goods and services for the same period was estimated 89.6 billion ISK and decreased by 14% compared with October 2019. The deficit in balance of trade in goods and services was estimated 3 billion ISK in October 2020 compared with a surplus of 19.6 billion ISK in October 2019.
Total export of trade in goods and services was estimated at 1,022.8 billion ISK in the latest 12-month period and decreased by 24% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1.029.6 billion ISK and decreased by 16% compared with the previous 12 months. Therefore, the deficit in balance of trade in goods and services was estimated 6.7 billion ISK in in the latest 12-month period compared with a surplus of 123.8 billion ISK for previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
| The value of exports and imports of goods and services (billion ISK) | ||||||
| October 2019 | October 2020 | % | November 2018- November 2019 | November 2020-October 2020 | % | |
| Exports of goods and services | 124.1 | 86.6 | -30 | 1,348.2 | 1,022.8 | -24 |
| Exports of goods | 66.0 | 62.0 | -6 | 666.8 | 613.7 | -8 |
| Exports of services | 58.1 | 24.6 | -58 | 681.4 | 409.2 | -40 |
| Imports of goods and services | 104.5 | 89.6 | -14 | 1,224.3 | 1,029.6 | -16 |
| Imports of goods | 65.8 | 65.8 | 0 | 782.1 | 709.4 | -9 |
| Imports of services | 38.7 | 23.8 | -38 | 442.3 | 320.1 | -28 |
| Balance of trade in goods and services | 19.6 | -3.0 | 123.8 | -6.7 | ||